LONDON (dpa-AFX) - Ocado Group plc (OCDO.L), on Thursday, reported a group
loss before tax of £393.6 million for the 52-week period ended 3 December 2023
compared to a loss of £500.8 million incurred a year ago.

Group revenue for FY23 increased 9.9% to £2.765 billion from £2.516 billion
generated in the previous year.

Underlying cash outflow improved by £356 million in FY23, driven by revenue
growth, strong profit flow-through, cost reductions, and lower capital
expenditure. This was above the £200 million of underlying cash flow improvement
guided at FY22 due to improved utilisation of MHE already on the balance sheet,
higher net interest income than forecast, and strong EBITDA performance.

Tim Steiner, Chief Executive Officer of Ocado Group, said, 'I am pleased to
report good progress across the Group in 2023. Our technology is transforming
the way people shop for food as we help some of the world's best and most
innovative retailers set the bar for excellence in grocery ecommerce worldwide.
We opened three new state-of-the-art robotic CFCs; in Chiba city (near Tokyo) in
Japan, Calgary in Canada, and Luton here in the UK and increased the amount of
installed capacity for our clients by a quarter. We now have installed capacity
at our retail partners for gross annual grocery sales of over £8bn.'



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